H-CYTE Enters Into Letter of Intent for Acquisition of Catheter Precision, Inc.
Targets one of Healthcare’s Largest Multi-Billion Dollar Markets: Cardiac Electrophysiology
TAMPA, Fla., Jan. 11, 2022 (GLOBE NEWSWIRE) -- H-CYTE, Inc. (OTCQB: HCYT), a medical biosciences company, today announced that it has entered into a letter of intent for the acquisition of Catheter Precision, Inc.
Catheter Precision is a medical device company focused on one of healthcare’s largest multi-billion dollar markets: Cardiac Electrophysiology. Catheter Precision has developed two cost-effective, user friendly and advanced technologies to improve the treatment of cardiac arrhythmias. These healthcare devices include ground-breaking robotic and technologic solutions to bring new opportunities to market for complex medical procedures.
Designed to improve patient outcomes, validated with clinical data, patent protection, peer-reviewed publications and strong physician support, the FDA approved devices fall into a high gross margin, razor/razor blade revenue model allowing the leveraging of existing reimbursement codes, existing regulatory approvals and low-risk future approvals. The company includes an experienced and successful board of directors, group of scientific advisors and management team.
Michael Yurkowsky, Chief Executive Officer for H-CYTE, stated, “I’m pleased to announce our entry into a letter of intent to acquire Catheter Precision, Inc. David Jenkins and his team have built a company with cutting edge technology that has the potential to change the Cardiac Electrophysiology market. David has an impeccable track record of building companies in the medical device space, and we believe their products offer a substantial market opportunity and will provide H-CYTE investors a first class brand and FDA approved device. We look forward to completing due diligence, targeting a closing date in the first quarter of 2022.”
The transaction is subject to a definitive agreement and customary closing conditions.
About H-CYTE, Inc.
H-CYTE is a medical biosciences company. H-CYTE’s mission is to become a leader in next generation medical technology with the ultimate goal of improving patient lives. For more information about H-CYTE, please visit www.HCYTE.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While H-CYTE believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those outlined in H-CYTE’s filings with the SEC, including but not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. H-CYTE expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
H-CYTE Investor Relations
Released January 11, 2022